Stratmin Global Resources PLC Production and Sales Update (5777B)
January 08 2015 - 2:00AM
UK Regulatory
TIDMSTGR
RNS Number : 5777B
Stratmin Global Resources PLC
08 January 2015
08 January 2015
StratMin Global Resources Plc
("StratMin" or the "Company")
Production and Sales Update
StratMin (AIM: STGR), the graphite production and exploration
company with assets in Madagascar, is pleased to provide an update
on production and sales for the month of December 2014.
December Highlights
-- Plant performance and flotation capacity were in line with expectations;
-- The beneficiation plant processed 288 tons of wet graphite
which, following drying, resulted in production of 68 tons of dry
mixed graphite;
-- Average grade of graphite increased to 93.14 per cent.
Production
The focus for December was on achieving production volume prior
to closing of the mine for the holiday period.
Production numbers for the shortened month of December(1) were
as follows:
Production Stage(2) Product Volume in tons
--------------------- -------------------- ---------------
Beneficiation Plant Wet Graphite 288
--------------------- -------------------- ---------------
Post de water, Pre
Drier 144
------------------------------------------ ---------------
Drier Dry Mixed 68
--------------------- -------------------- ---------------
Screening -80mesh 0
--------------------- -------------------- ---------------
+80 - 50mesh 8
------------------------------------------ ---------------
+50mesh 20
------------------------------------------ ---------------
(1) Production ceased on 23 December 2014 due to the
commencement of the Christmas holiday period
(2) Refer to Notes to Editors at end of this announcement for
further details
The Company is pleased to report that the average grade for
December's production improved to 93.14 per cent. In addition,
general plant performance and flotation capacity was in line with
expectations. Screening capacity was limited, but we expect this to
be resolved later this month once the final new screen has been
delivered to Madagascar and installed. Further improvements are
also expected this month within the beneficiation plant as
additional milling capacity is brought online to assist with grade
improvements.
Sales
48 tons of graphite were sold during December which, as a result
of the Christmas holiday period, was lower than the anticipated
monthly sales rate as purchase orders were delayed. An uplift in
monthly sales is therefore expected in the first few months of
calendar 2015.
Manoli Yannaghas, StratMin's Managing Director, commented:
"Production and plant performance improved throughout December.
We made solid progress with our concentrate grades and maintained a
healthy production rate through the beneficiation plant for such a
short month.
"The improvements to screening are expected to be brought online
this month as well as the increased mill capacity, both of which
are expected to improve our ability to polish the graphite and
therefore increase grades. Both these upgrades will significantly
affect the quality of our end product.
"Our confidence at the operational level has grown significantly
over the last few months and we look forward to hopefully reporting
further progress in the coming months."
Enquiries
For further information please visit www.stratminglobal.com or
contact:
+44 (0) 20 3691
StratMin Global Resources Plc 6160
Manoli Yannaghas (Managing Director)
Strand Hanson (Nomad & Financial Adviser) +44 (0) 20 7409
James Spinney / Ritchie Balmer 3494
+44 (0) 20 3693
Hume Capital Securities Plc (Sole Broker) 1470
Jon Belliss / Abigail Wayne
Blytheweigh (Financial PR) +44 (0) 20 7138
Tim Blythe / Halimah Hussain / Camilla Horsfall 3204
Notes to Editors
Stratmin Global Resources is the only graphite producer and
supplier listed on AIM.
The Company announced production early 2014 at their 100% owned
Lohorano plant in Madagascar. The mine itself sits 2 km from the
main road and 2 hours from Tamatave, the largest port which handles
90% of Madagascar's import and exports.
Production Plant: Table Explanation
The production plant is split into three stages.
1. Beneficiation Plant: Graphite is separated from the ore in
the beneficiation plant. Beneficiated product typically contains 60
per cent. moisture.
2. Drying Plant: Water from the beneficiated product is removed
from the graphite concentrate in the drying plant. This is split
into two stages:
a. Dewatering: A centrifuge reduces moisture content to between 20 - 25 per cent.
b. Drying: A rotary drier reduces moisture content to under 1 per cent.
3. Screening: the process where the dry concentrate is split
into different size portions and flake sizing.
We have chosen to report in this format as it better delineates
the performance of the different stages of the plant. The numbers
attributed to each stage represent the stand alone performance of
that stage of the plant on a monthly basis.
-ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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